The Pentagon held a press briefing on Friday, Jan. 28 to announce the winner of the VXX competition to supply a new Presidential helicopter. Lockheed Martin’s US-101 was selected over Sikorsky’s VH-92.

The briefing was held by John Young, Assistant Secretary of the Navy for Research, Development and Acquisition; and Thomas Laux, Program Executive Officer. In addition to explaining the decision, the briefers also provided a detailed breakdown of the $6.1 billion program and provided other contract details.

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STAFF: Okay, thanks, everybody, for coming to today's announcement on the source selection of the presidential helicopter. In a moment I'll introduce the two people who will be speaking with you today.

If I could, just at the beginning, we only have about 30 minutes to do this, and a topic that has a lot of interest. I'd like to keep this single subject: the presidential helicopter.

With that I will introduce -- the announcement today will be made by Secretary John Young, he is the assistant secretary of the Navy for Research, Development and Acquisition. After he's completed his announcement, Mr. Tom Laux will also be available. He is the program executive officer who will be responsible for oversight of the presidential helicopter…..

Click here for the complete transcript, on the Pentagon website (HTML format)